Auction Report: highlight on Ermitage Cathelin from Jean-Louis Chave

Over 500 buyers took part in this auction closed on 24th February on iDealwine. Overall, they have followed current market trends with a few surprises still as the Cuvée d’ermitage Cathelin from Jean-Louis Chave whose price soared. Same happened to a few other rare vintages in this sale.

In Bordeaux, the « firsts» don’t seem to be suffering from current Bordeaux bashing and the demand remains high. Petrus is still in great demand including in « lesser » vintages, as for example this 1974 increasing by 21% to €1,040 or the 2006 to €1,800 (11%). The legendary 1982 is still on the rise by 12% to €3,840. Same happens to Château Mouton Rothschild, very well represented in this sale with a 2005 sold for €600 – an increase by 19% – and €1,241 for the 2000 (+16%). Châteaux Lafite Rothschild (is inscreasing by 29% with the 1997), Cheval Blanc by 23% for 1998, Margaux +23% for the 1990 and 10% for 2001. Older vintages continue to sell for higher prices, as château La Mission Haut-Brion whose 1943 jumped to €379, +57% versus current estimate.

In Burgundy the Vosne-Romanée 1er Cru Au Cros Parantoux 2010 from Méo-Camuzet is probably the highlight of the sale, selling 64% over its estimate. This French wine collector paid €1,874 for this bottle. Wines of J-F. Mugnier are still highly demanded, a bottle of Musigny Grand Cru 2007 reached €660 (+33%); as did the Coche-Dury, increasing by 33% for the Meursault Les Chevalières 2002 at €480; same with Domaine des Comtes Lafon (+26% for Meursault 1er Cru Les Perrières 2009, sold for €204). Prices of wines from Rousseau, Roumier and Leflaive are stabilising or are even reducing slightly.

A lot from Rhone has created a real buzz: a rare Ermitage Cuvée Cathelin 1995 from Jean-Louis Chave, bought €2,160 (+131%) by an Austrian wine professional. Prices of ready-to-drink vintages are still on the rise, notably on the greatest wines from the region as this Côte Brune 2002 from Jamet that reached €138 (+38%) or this Châteauneuf-du-Pape 2001 from Rayas that went for €348 under the hammer (+26%).

In Champagne, no big surprises: prestige cuvées carry their growth. Cristal 1985 from Louis Roederer increased by 30% (€360) and a Veuve Clicquot Ponsardin 1988 reached €138, increasing by 28%. Note also the good performances of Maison Egly-Ouriet, rare at auction: the Blanc de Noirs Cuvée Vieilles Vignes reached €180 and the Brut Tradition 1990 €300.

In other regions, Clos Rougeard continues to increase at a good pace, but Clos de la Coulée de Serrant also shows a strong demand and rising prices with an increase by 30% to €74 for the 1991 vintage. Other auction stars included Grange des Pères whose prices keep climbing (€192 for a 2005, increasing by 47%). Note also the 2005 from Domaine de Trévallon sold for €72 (+30%). A few wines from Château Chalon, relatively rare at auction are also on the rise as this 1990 from Tissot, bought €78 (+63%) and a 2002 from Jean Macle vendu €100 (+33%). The Bas-Armagnac Vieux de Laberdolive Domaine d’Escoubès 1904 reached €720.

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